Why the Pension Saver:
- You can contribute any amount to your plan
- Contributions are allowed up to the end of the year in which you become 65years old
- Interest paid on the RRSP is not subject to income tax at the time the interest is earned and rates are fixed for five-year periods*
- As the plan-owner, you’re allowed to withdraw 10% of the purchase price of a first home, up to $25,000 from the RRSP tax-free
- At maturity, you can withdraw 25% of your funds tax-free
- You can purchase an additional Total Disability benefit. This entitles the insured persons to receive waived payments of the premium from Sagicor in the event of total disability.
*Interest rate is guaranteed for a period but will fluctuate over time.
The Millennium Saver and Pension Saver are two of the many solutions offered by Sagicor to help you reach your goals. Ask a Sagicor Advisor how this product can be a part of a wise approach to your complete financial well-being.